Funding arb · Price arb /

DOT

all DOT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0228%/8h= −25.0% APRpaid last 24h −0.025%

Price spread now: Kraken Futures against Bybit+0.062%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$580.575% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now +0.062%, 7d avg +0.088%

Together, before fees−0.155%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Kraken Futures is 0.026% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.088%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit DOTUSDT	1.1932	0.0100	pay 0.0100% / 8h	2h 35m	$24.5M	$17.6M	75x
Short	Kraken Futures PF_DOTUSD	1.1939	−0.0128	pay 0.0016% / 1h	35m 07s	$4.5M	$1.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$47.94
Price spread: +0.062% → +0.088%: −$2.63
Slippage, 4 orders: −$36.52
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$108.08
Costs to cover: 0.575%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; Kraken Futures: live order book, 4 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Bybit live order book, 3 min ago	0.42 bp	15.2 bp −$15	28.7 bp −$287	120.8 bp −$12.1K	doesn't fit
Sell Kraken Futures live order book, 4 min ago	2.11 bp	18.3 bp −$18	26.9 bp −$269	308.2 bp −$30.8K	doesn't fit

DOT on 29 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit DOT_USDC-PERPETUAL	−0.0336%	1h	1.1940	+0.067%	$218K	$117K	50x	as long as short
Reya DOTRUSDPERP	−0.0166%	1h	1.1925	−0.056%	$258	—	—	as long as short
Kraken Futures PF_DOTUSDshort	−0.0128%	1h	1.1939	+0.062%	$4.5M	$1.3M	50x
Injective DOT/USDC PERP	−0.0080%	1h	1.1820	−0.939%	$323	$83K	12x	as long as short
Coinbase International DOT-PERP-INTX	−0.0064%	1h	1.1930	−0.017%	$191K	$1.8M	50x	as long as short
OKX DOT-USDT-SWAP	−0.0037%	8h	1.1938	+0.050%	$9.4M	$23.1M	50x	as long as short
dYdX DOT-USD	0.0000%	1h	1.1921	−0.096%	$144K	$6K	10x	as long as short
gTrade (Gains Network) DOT/USD	L 0.0000% / S +0.0004%	1h	1.1936	+0.032%	$3K	—	150x	as long as short
KuCoin DOTUSDTM	+0.0029%	8h	1.1928	−0.034%	$6.9M	$8.7M	75x	as long as short
Lighter DOT	+0.0096%	1h	1.1931	−0.009%	$261K	$563K	10x	as long as short

Show all 29 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid DOT	+0.0100%	1h	1.1944	+0.101%	$5.3M	$3.1M	10x	as long as short
Aster DOTUSDT	+0.0100%	8h	1.1910	−0.185%	$892K	$647K	50x	as long as short
Binance DOTUSDT	+0.0100%	8h	1.1933	+0.007%	$44.1M	$79.6M	75x	as long as short
Bybit DOTUSDTlong	+0.0100%	8h	1.1932	long leg	$24.5M	$17.6M	75x
Gate DOT_USDT	+0.0100%	8h	1.1930	−0.017%	$6.8M	$11.2M	75x	as long as short
MEXC DOT_USDT	+0.0100%	8h	1.1936	+0.034%	$32.7M	$34.4M	300x	as long as short
Bitget DOTUSDT	+0.0100%	8h	1.1935	+0.025%	$23.0M	$13.5M	75x	as long as short
BingX DOT-USDC	+0.0100%	8h	1.1938	+0.050%	—	$1.3M	—	as long as short
Backpack DOT_USDC_PERP	+0.0100%	1h	1.1940	+0.067%	$95K	$121K	10x	as long as short
Variational Omni DOT	+0.0100%	8h	1.1906	−0.217%	$542K	$91K	—	as long as short
edgeX DOTUSDC	+0.0100%	4h	1.1858	−0.619%	$35K	$331K	20x	as long as short
GRVT DOT_USDT_Perp	+0.0100%	8h	1.1910	−0.184%	$231K	$469K	10x	as long as short
Orderly PERP_DOT_USDC	+0.0100%	8h	1.1930	−0.017%	$8K	$27K	10x	as long as short
SunX DOT-USDT	+0.0100%	8h	1.1934	+0.017%	$2K	$1.2M	20x	as long as short
HTX DOT-USDT	+0.0100%	8h	1.1933	+0.008%	$247K	$207K	75x	as long as short
Extended DOT-USD	+0.0104%	1h	1.1927	−0.043%	$15K	$240K	25x	as long as short
BloFin DOT-USDT	+0.0220%	8h	1.1927	−0.042%	$2.2M	$759K	75x	as long as short
GMX DOT/USD [WBTC.b-USDC]	L +0.0301% / S −0.1014%	1h	1.1934	+0.017%	$22K	—	100x	as long as short
Phemex DOTUSDT	+0.0369%	8h	1.1950	+0.151%	$2.2M	$2.1M	50x	as long as short